Again it's not in any way overpriced. It is the cheapest fine grain leather case on the market and the best fitting one with the most R&D dollars put into it. How does that make sense? CHEAPEST in it's class and BEST fitting. It's not overpriced in any sense of the word. Maybe you were thinking of the word "expensive" the case is underpriced compared to any alternative of equal or better material quality but it's expensive.
The only cheaper moulded leather cases are not made from fine grain premium leather, they're made from extremely cheap coarse leather material that feels like plastic to the touch.
Apple is able to use economies of scale and pooling massive corporate resources to ensure efficient production. Most companies couldn't make package advertise and ship this product for $39 and turn a profit. I know for a fact as a designer of products like this that I'd lose money.
just like timberlands if some bits look black from dirt just rub them off. Wear is what gives theses things their uniqueness as long as they dont break or loose their grip on the phone.
